Geothermal energy is almost always the best renewable power option where it’s available Geothermal energy is widespread and used all over the world and more countries are discovering the benefits.
SRE Power group is focused on the design, manufacture, installation, and operation of power plants from renewable energy sources including geothermal, waste heat recovery and Solar + Hydrogen. SRE is currently developing the Biliran & Montelago geothermal projects totalling over 300 Mwe in the Philippines, 100 Mwe Solar + Hydrogen in Nigeria and industrial scale Waste Heat Recovery for a major steel manufacturer in Latin America. Other projects are under development.
EPC & Renewable Energy Independent Power Producer (“RE-IPP”) producing clean electricity 24 hours a day, capable of converting excess electricity to hydrogen for sales in the rapidly growing market for industrial users as well as new hydrogen vehicles.
The global geothermal energy market size was valued at USD 59.40 billion in 2021. The market is projected to grow from USD 62.65 billion in 2022 to USD 95.82 billion by 2029, exhibiting a CAGR of 6.3% during the forecast period. The Global COVID-19 pandemic has been unprecedented and staggering, with geothermal energy market experiencing higher-than anticipated demand across all regions compared to pre-pandemic levels.
The current H2 market is around $317 billion USD, with over $500m of projects currently under execution to advance hydrogen technology in the USA and the EU countries have also committed to building resilient hydrogen infrastructure. This is expected to translate into an estimated $4.5 trillion USD future H2 market within 10-15 years.
A recent Bank of America report estimates that hydrogen could create as much as $11 trillion dollars in investment over the next 3 years.
Globally, geothermal power generation is escalating steadily with the growing demand for renewable energy. Several governments are taking green initiatives to overcome greenhouse gas emissions. Generating energy with no or few greenhouse gas emissions will reduce air pollution. Geothermal power is reducing the dependency on the energy generated from fossil fuels. Geothermal power plants emit 99% less carbon dioxide (CO2) than fossil fuels. Since the energy is one of the most reliable sources of energy, which is cost-effective, sustainable, environment friendly and runs 24 hours a day.
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